Grayscale Introduces Dogecoin Trust to Expand Digital Asset Offerings
American crypto asset manager Grayscale Investments has launched its first Dogecoin Trust to cater to investors seeking exposure to the popular meme coin.
Increased Accessibility for Corporate Buyers
Grayscale notes Dogecoin's significant adoption worldwide, positioning it as an asset that aligns with Bitcoin's original egalitarian ethos. The Dogecoin Trust offers accredited investors a convenient way to gain exposure to the asset.
Expansion of Grayscale's Crypto Suite
Grayscale has been at the forefront of expanding its crypto offerings since its groundbreaking Bitcoin ETF listing in 2023. The company has introduced various crypto trusts, including the XRP Trust launched in 2024, and has filed for numerous ETF products.
Surge in Dogecoin ETF Filings
Under the current SEC administration, there has been an increase in the pursuit of crypto ETF products. Dogecoin has emerged as a key player in this space, with ETF filings for the coin surging recently. The approval odds for these products stood at 56% as of January 29th.
Grayscale's Impact on Dogecoin Price
The Grayscale Dogecoin Trust has garnered attention in the market, with the coin's price experiencing an uptick following the announcement. The current price of DOGE is $0.3366, representing a 2.4% increase over the past 24 hours.